EIB vice president meets with Geingob

01 Nov 2016 16:10pm
WINDHOEK, 01 NOV (NAMPA) – Vice-president of the European Investment Bank (EIB) on Tuesday met with President Hage Geingob to brief him on their operations in Namibia.
Pim van Ballekom said the EIB has a good track record in providing grants and soft loans to small and medium enterprises (SMEs) in Namibia.
“We have a good technical reputation especial in renewable energy, and lending, advisory services and financing possibility studies,” he said.
He noted that they have also assisted national power utility, NamPower, in establishing biogas operations. Their last agreement was with the Ohorongo cement factory for over Euro 80 million (N.dollars 1,1 billion).
Van Ballekom said he also met with Minister of Finance, Calle Schlettwein to discuss other business opportunities, especially in renewable and solar energy.
The bank has been operating in Namibia since 1992, providing financial projects with lending on favourable terms totalling Euro 294,5 million (N.dollars 4.4 billion).
On his part, President Hage Geingob welcomed the bank’s investment in Namibia, saying they are supporting the Harambee Prosperity Plan that aims at eradicating poverty in the country.
Van Ballekom, who arrived in Namibia on Monday, also met with the management of Namibia Breweries Limited to discuss further opportunities.
The EIB is the European Union's non-profit long-term lending institution established in 1958 under the Treaty of Rome - an international agreement that led to the creation of the European Economic Community (EEC).